All categories

2 years ago

What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)?

1 answer:

4 0

The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.

You might be interested in

On january? 1, 2017, dodge company purchases? $90,000, 7% bonds at a price of 86.4 and a maturity date of january? 1, 2027. dodg

andreev551 [17]

We should note that the bond investment account is recorded at cost by the Bondholder or Investor.

The cost or price is calculated as:

Cost = $90,000 * 86.4%

Cost = $90,000 * 0.864 = $77,760

Therefore, the entry to record should be:

debit Held-to-Maturity Investment in Bonds for $77,760 and credit Cash for $77,760

4 0

3 years ago

____ focuses on the productivity of the individual worker; the _____ approach focuses on the total organization.

telo118 [61]

Individual productivity in the workplace entails executing tasks that advance you toward achieving your objectives in a timely manner and contribute to your work-life balance and simplicity. You divide the average production for a given period by the expenses incurred or the resources, such as staff, used during that period to determine productivity.

Being able to create, especially quickly and with excellent quality, is a sign of productivity. Making excellent school tasks in a short amount of time is an example of productivity. How quickly toys can be produced in a toy factory is an illustration of productivity.

To learn more on individual productivity

brainly.com/question/3053378

#SPJ4

7 0

1 year ago

Prepare a December 31, 2020, balance sheet for Long Print Shop from the following: cash, $50,000; accounts payable, $38,000; mer

Bumek [7]

Answer:

Long Print Shop

Balance sheet for the year ended December 31, 2020

Amount in $ Amount in $

Assets

Non-current asset

Equipment 20,000

Current assets

Merchandise inventory 14,000

Cash 50,000

Total current asset 64,000

Total assets 84,000

Liabiities

Accounts payable 38,000

Total liabilities  38,000

Equity

Capital 46,000

Total equity 46,000

Total liabilities and equity 84,000

Explanation:

The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity. This may be expressed mathematically as

Assets = Liabilities + Equity

While assets include fixed assets, cash, inventories, account receivables etc, liabilities include accounts payable, loans payable, accrued expenses etc.

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

5 0

2 years ago

Which of the following statements regarding direct selling is most accurate? Multiple Choice Unlike other forms of nonstore reta

scoundrel [369]

Answer:

Direct selling succeeds because it provides customers with a social shopping experience.

Explanation:

Direct selling: In business, the term "direct selling" is described as a process of selling different products to the specified customers directly in a "non-retail environment". However, the products that are being sold through "direct sales" are generally not found in some typical locations, that means finding a specific rep or distributor is considered as a single method of buying different services or products.

7 0

2 years ago

The area from which employers obtain certain types of workers is known as the: _________

Talja [164]

Answer: A. labor market

Explanation:

The labor market is indeed a market because it operates as a market does. Here the prospective employees offer their services to employers who then buy these services and pay them a wage as compensation.

It is therefore where employers are able to obtain the types of workers that they want because they can advertise their preference then narrow their choices through interviews and other recruitment methods.

6 0

2 years ago